International Interdependence and the Debt Problem

M. Panić
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M. Panić: University of Cambridge

Chapter 8 in Globalization and National Economic Welfare, 2003, pp 191-207 from Palgrave Macmillan

Abstract: Abstract There is little doubt that the current levels and composition of developing countries’ debts present a serious threat to the survival of the international financial system. Not surprisingly, the possibility of a global financial upheaval has inspired a large and rapidly growing literature covering a wide range of issues. Yet it is far from clear that the debate has been very successful in isolating the real origin of the problem. In the debt drama, as in a detective story, the real culprit is not necessarily one of the main suspects, even though the latter may be guilty of many serious offences.

Keywords: Industrial Country; Central Bank; Industrial Economy; Debt Problem; Average Annual Percentage Change (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28659-7_8

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DOI: 10.1057/9780230286597_8

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